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S2320 - Summary

Relates to the the exemption from taxation of alterations and improvements to multiple dwellings to eliminate fire and health hazards; relates to a partial abatement of real property taxes for condos and co-ops, in a city having a population of one million or more; relates to interim multiple dwellings in a city with a population of one million or more persons; relates to certain tax credits and exemptions in a city having a population of one million or more.

S2320 - Sponsor Memo

BILL NUMBER:S2320
TITLE OF BILL: An act to amend the real property tax law, in relation
to exemption from taxation of alterations and improvements to multiple
dwellings to eliminate fire and health hazards and a partial abatement
of real property taxes for condominiums and cooperatives, in a city
having a population of one million or more; to amend the
administrative code of the city of New York, in relation to certain
tax credits; to amend the real property tax law, in relation to
interim multiple dwellings in a city with a population of one million
or more; to amend the multiple dwelling law, in relation to interim
multiple dwellings in a city with a population of one million or more;
and providing for the repeal of certain provisions of the multiple
dwelling law upon expiration thereof
PURPOSE: The purpose of this legislation is to continue to provide an
incentive to owners to rehabilitate and upgrade existing multiple
dwellings. Additionally, this legislation would make various changes
to the Loft Law in order to provide clarifying language to allow for
easier interpretation and to adjust rental increases for compliance
with fire and safety standards. This legislation would also, amend the
Real Property Tax Law to incentivize the construction of new housing.
Additionally, the bill would amend a tax abatement for cooperatives
and condominiums to enhance the abatement for primary residents.
Finally, the bill would create an S-corp tax credit.

SUMMARY OF PROVISIONS:
This bill would:
* Extend from June 1, 2011, until January 1, 2015, the deadline for
local legislative action providing J-51 tax incentives for the
rehabilitation and upgrading of multiple dwellings, and extend the
completion date from December 31, 2011, to June 30, 2015;
* Define "substantial governmental assistance," and create an
eligibility criteria for alterations/improvements to cooperative and
condominium apartments with an assessed value of $30K to $40K that
requires such units to receive substantial governmental assistance;
* Provide that J-51 benefits would only be available for conversions
from commercial to residential properties receiving substantial
governmental assistance;
* Require that an applicant pay two times the actual costs for any
additional inspections if such applicant has not completed work
required on the date of the initial inspection;
* Provide in statute that the revocation of J-51 benefits does not
exempt any multiple dwelling, building, or structure from continued
compliance with the requirements of RPTL § 489 or of any local law or
ordinance providing for these benefits;
* Authorize the locality to require the electronic filing of
applications;
* Reduce the minimum space requirement needed to qualify as a loft
apartment from 550 square feet to 400 square feet;
* Adjust the exclusion of units in buildings that contain certain
hazardous activities to exclude those units that had hazardous
activities on June 21, 2010, that continue until the date of
submission for coverage under the Loft Law;
* Reduce the percent of rent increases allowed for coming into various
stages of compliance for fire and safety standards;
* Allow the Loft Board to include units under the loft law despite any
incompatible uses in the building;
* Incentivize the construction of affordable and market rate units in
areas of Manhattan through the 421-a benefit program;
* Eliminate language added in Chapter 97 of the Laws of 2011 intended
to allow extended periods of construction for certain projects
participating in the 421-a program;
* Require the Department of Housing Preservation and Development to
make information relating the J-51 program available on its website,
to provide a contact phone number for tenants to determine benefits
available through the J-51 program, and to convene a task force that
shall examine and report on methods to improve the transparency of
J-51;
* Amend the term "applicant" to permit the Commissioner of Finance to,
by rule, designate the owner of a dwelling unit as an applicant;
* Provide that in the fiscal year commencing in calendar years two
thousand twelve, two thousand thirteen or two thousand fourteen, no
more than a maximum of three dwelling units owned by any unit owner or
tenant stock-holder in a single building, one of which must be the
primary residence of such owner or tenant-stockholder, shall be
eligible to receive a partial abatement pursuant to paragraphs d-1
through d-4 of the section;
* Modify and extend the program for three additional years (for fiscal
years commencing in 2012, 2013 and 2014). Paragraphs d-1 through d-4
provide the benefit schedule for dwelling units that serve as the
primary residence of their unit owner and up to two additional units
located within the same property that are also owned by such owner.
* The benefits are as follows:
o In fiscal years commencing in 2012, 2013 and 2014, dwelling units in
property whose average unit assessed value is less than or equal to
$50,000 shall receive a partial abatement of 25%, 26.5% and 28.1%
respectively.
o In fiscal years commencing in 2012, 2013 and 2014, dwelling units in
property whose average unit assessed value is more than $50,000, but
less than or equal to $55,000, shall receive a partial abatement of
22.5%, 23.8% and 25.2% respectively.
o In fiscal years commencing in 2012, 2013 and 2014, dwelling units in
property whose average unit assessed value is more than $55,000, but
less than or equal to $60,000, shall receive a partial abatement of
20.0%, 21.2% and 22.5% respectively.
o In fiscal years commencing in 2012, 2013 and 2014, dwelling units in
property whose average unit assessed value is more than $60,000, shall
receive a partial abatement of 17.5%.
* Provide the benefit schedule for units that received the abatement
in fiscal year two thousand twelve, which are located in a property
that does not contain a unit that is the primary residence of the
owner of such units. The benefits are as follows:
o In fiscal years commencing in 2012, 2013 and 2014, dwelling units in
property whose average unit assessed value is less than or equal to
$15,000 shall receive a partial abatement of 12.5%, 6.25% and no
abatement respectively.
o In fiscal years commencing in 2012, 2013 and 2014, dwelling units in
property whose average unit assessed value is greater than $15,000
shall receive a partial abatement of 8.75%, 4.375% and no abatement
respectively.
* Adjust how the condominium and cooperative abatement is calculated;
* Amend the application process for the condominium and cooperative
abatement program;
* Provide for S-Corporation tax credits against the NYC local PIT for
city residents for taxable years beginning on or after January 1, 2014
and before July 1, 2015. Benefits would be provided to S-Corporations
with city taxable incomes of less than one hundred thousand dollars;
* Authorize the Commissioner to promulgate rules to include denial,
termination or revocation of any abatement if the dwelling unit real
property taxes, water and sewer charges, payments in lieu of taxes or
other municipal charges are due and owing unless they are currently
being paid in timely installments pursuant to a written agreement with
New York City; and
* Authorize the Commissioner of Finance to prepare and submit amended
tax bills to taxpayers to reflect any adjustments necessary to apply
the abatement.
JUSTIFICATION: The J-51 benefit program provides incentives for
landlords to engage in rehabilitation projects to make improvements.
Benefits for the program vary depending on the location of the
building and the type of improvements to be made. This legislation
would make several changes to the program such as provide that J-51
benefits would only be available for conversions from nonresidential
to residential properties receiving substantial governmental
assistance. This would ensure that some of the housing contained in
these projects remains affordable to low and moderate income families.
Also, the bill would create a penalty that encourages owners to
complete their J-51 improvements in a timely and correct manner.
This amendment to the Loft Law is necessary to clarify ambiguities in
the law to more accurately represent the intent and to update the
language to reflect the current rental market. Under current law,
landlords are allowed to raise rents in excess of twenty percent as
incentives to convert the units and bring them into compliance with
current fire and safety standards. These rent increases were
appropriate when the original Loft Law of 1982 was first passed when
loft residents were paying well under market rate. Today, these rent
increases are overly burdensome, unaffordable and threaten to displace
tenants. Furthermore, the bill would bring a greater number of units
that are not in compliance with current fire and safety standards and
are occupied for residential purposes into compliance with the
existing law.
Incentivizing residential construction projects will have the
immediate beneficial effect of creating new housing stock, and
stimulating the economy through job creation and development. By
extending the 421-a program to projects in the FAR 15 zones, this
legislation would stimulate the creation of much needed new affordable
and market rate housing. In order to participate in the program
developers would need to provide on-site affordable housing or provide
funding to New York City's Department of Housing Preservation and
Development for the construction of affordable housing. The bill also
makes technical changes to remove unnecessary language which was added
as the result of last year's amendments to the 421-a real property tax
exemption program.
Since 1996, the City of New York has offered, with New York State
authorization, a partial property tax abatement program for co-op and
condo owners. The program was established to address inequities in the
real property tax system in New York City that burden owners of co-op
and condominium units with larger tax bills than the owners of
comparably valued one-, two and three-family homes. The original
intent of the program was to ensure equity to those co-op and condo
owners who primarily reside in New York City. However, a significant
number of current beneficiaries are not owner-occupants but investors
who were not the intended recipients. This bill extends the program
for three additional years, provides additional benefit by enriching
the abatement for lower-valued properties, and restores the original
intent of the program by phasing out the benefit for non-primary
residents.
LEGISLATIVE HISTORY: New legislation
FISCAL IMPLICATIONS: None to the State
EFFECTIVE DATE:
This act shall take effect immediately and shall be deemed to have
been in full force and effect on and after June 1, 2012; provided
that:
(a) sections one, two and three of this act shall be deemed to have
been in full force and effect on and after December 31, 2011;
(b) the amendments made to section 489 of the real property tax law by
section three of this act shall not be deemed to change the
eligibility for benefits, pursuant to such section and any local law
or ordinance providing for benefits pursuant to such section, as a
result of conversions, alterations or improvements completed before
December 31, 2011;
(c) the provisions of section fourteen of this act shall be deemed to
have been in full force and effect on and after December 31, 2007;
(d) the provisions of sections fifteen, sixteen and seventeen of this
act shall be deemed to have been in full force and effect on and after
December 28, 2010;
(e) with respect to any application for a preliminary certificate of
eligibility that is filed no later than June 24, 2012, or that is
filed for a project that was the subject of mortgage foreclosure
proceedings or other lien enforcement litigation by a lender on or
before June 24, 2012, such project shall be subject to that portion of
the definition of "commence" contained in item (1) of clause (iv) of
subparagraph (2) of paragraph (b) of subdivision (a) of section 6-09
of title twenty-eight of the rules of the city of New York;
(f) sections eighteen, nineteen and twenty of this act shall be deemed
to have been in full force and effect on and after June 1, 2011;
(g) notwithstanding any inconsistent provision of this act, the
amendment to subdivision 5 of section 281 of the multiple dwelling law
made by section twenty-one of this act in relation to the authority of
the loft board to exempt categories or subcategories of units or
buildings by rule from determinations of inherently incompatible uses
shall be deemed to have been in force and effect on and after June 21,
2010 and to authorize rules of the loft board promulgated after such
date that make such exemptions; and
(h) sections twenty-one, twenty-two, twenty-three and twenty-four
shall expire and be deemed repealed on June 30, 2015.

S T A T E O F N E W Y O R K
________________________________________________________________________
2320
2013-2014 Regular Sessions
I N S E N A T E
January 15, 2013
___________
Introduced by Sen. GOLDEN -- read twice and ordered printed, and when
printed to be committed to the Committee on Rules
AN ACT to amend the real property tax law, in relation to exemption from
taxation of alterations and improvements to multiple dwellings to
eliminate fire and health hazards and a partial abatement of real
property taxes for condominiums and cooperatives, in a city having a
population of one million or more; to amend the administrative code of
the city of New York, in relation to certain tax credits; to amend the
real property tax law, in relation to interim multiple dwellings in a
city with a population of one million or more; to amend the multiple
dwelling law, in relation to interim multiple dwellings in a city with
a population of one million or more; and providing for the repeal of
certain provisions of the multiple dwelling law upon expiration there-
of
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The opening paragraph of paragraph (a) of subdivision 1 of
section 489 of the real property tax law, as amended by chapter 244 of
the laws of 2006, is amended to read as follows:
Any city to which the multiple dwelling law is applicable, acting
through its local legislative body or other governing agency, is hereby
authorized and empowered, to and including [June] JANUARY first, two
thousand [eleven] FIFTEEN, to adopt and amend local laws or ordinances
providing that any increase in assessed valuation of real property shall
be exempt from taxation for local purposes, as provided herein, to the
extent such increase results from:
S 2. The closing paragraph of subparagraph 6 of paragraph (a) of
subdivision 1 of section 489 of the real property tax law, as amended by
chapter 244 of the laws of 2006, is amended to read as follows:
Such conversion, alterations or improvements shall be completed within
[thirty-six] THIRTY months after the date on which same shall be started
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06204-04-3

S. 2320 2
except that such [thirty-six] THIRTY month limitation shall not apply to
conversions of residential units which are registered with the loft
board in accordance with article seven-C of the multiple dwelling law
pursuant to subparagraph one of this paragraph. Notwithstanding the
foregoing, a sixty month period for completion shall be available for
alterations or improvements undertaken by a housing development fund
company organized pursuant to article eleven of the private housing
finance law, which are carried out with the substantial assistance of
grants, loans or subsidies from any federal, state or local governmental
agency or instrumentality or which are carried out in a property trans-
ferred from such city if alterations and improvements are completed
within seven years after the date of transfer. In addition, the local
housing agency is hereby empowered to grant an extension of the period
of completion for any project carried out with the substantial assist-
ance of grants, loans or subsidies from any federal, state or local
governmental agency or instrumentality, if such alterations or improve-
ments are completed within sixty months from commencement of
construction. Provided, further, that such conversion, alterations or
improvements shall in any event be completed prior to [December thirty-
first] JUNE THIRTIETH, two thousand [eleven] FIFTEEN. Exemption for
conversions, alterations or improvements pursuant to subparagraph one,
two, three or four of this paragraph shall continue for a period not to
exceed fourteen years and begin no sooner than the first quarterly tax
bill immediately following the completion of such conversion, alter-
ations or improvements. Exemption for alterations or improvements pursu-
ant to this subparagraph or subparagraph five of this paragraph shall
continue for a period not to exceed thirty-four years and shall begin no
sooner than the first quarterly tax bill immediately following the
completion of such alterations or improvements. Such exemption shall be
equal to the increase in the valuation which is subject to exemption in
full or proportionally under this subdivision for ten or thirty years,
whichever is applicable. After such period of time, the amount of such
exempted assessed valuation of such improvements shall be reduced by
twenty percent in each succeeding year until the assessed value of the
improvements are fully taxable. Provided, however, exemption for any
conversion, alterations or improvements which are aided by a loan or
grant under article eight, eight-A, eleven, twelve, fifteen or twenty-
two of the private housing finance law, section six hundred ninety-six-a
or section ninety-nine-h of the general municipal law, or section three
hundred twelve of the housing act of nineteen hundred sixty-four (42
U.S.C.A. 1452b), or the Cranston-Gonzalez national affordable housing
act (42 U.S.C.A. 12701 et. seq.), or started after July first, nineteen
hundred eighty-three by a housing development fund company organized
pursuant to article eleven of the private housing finance law which are
carried out with the substantial assistance of grants, loans or subsi-
dies from any federal, state or local governmental agency or instrumen-
tality or which are carried out in a property transferred from any city
and where alterations and improvements are completed within seven years
after the date of transfer may commence at the beginning of any tax
quarter subsequent to the start of such conversion, alterations or
improvements and prior to the completion of such conversion, alterations
or improvements.
S 3. Section 489 of the real property tax law is amended by adding
four new subdivisions 17, 18, 19 and 20 to read as follows:
17. (A) FOR PURPOSES OF THIS SUBDIVISION, "SUBSTANTIAL GOVERNMENTAL
ASSISTANCE" SHALL MEAN:
S. 2320 3
(I) GRANTS, LOANS OR SUBSIDIES FROM ANY FEDERAL, STATE OR LOCAL AGENCY
OR INSTRUMENTALITY IN FURTHERANCE OF A PROGRAM FOR THE DEVELOPMENT OF
AFFORDABLE HOUSING APPROVED BY THE LOCAL HOUSING AGENCY, INCLUDING,
WITHOUT LIMITATION, FINANCING OR INSURANCE PROVIDED BY THE STATE OF NEW
YORK MORTGAGE AGENCY OF THE NEW YORK CITY RESIDENTIAL MORTGAGE INSURANCE
CORPORATION; OR
(II) A WRITTEN AGREEMENT BETWEEN A HOUSING DEVELOPMENT FUND CORPO-
RATION AND THE LOCAL HOUSING AGENCY LIMITING THE INCOMES OF PERSONS
ENTITLED TO PURCHASE SHARES OR RENT HOUSING ACCOMMODATIONS THEREIN.
(B) ANY LOCAL LAW OR ORDINANCE PROVIDING FOR BENEFITS PURSUANT TO THIS
SECTION MUST ALSO PROVIDE THE FOLLOWING WITH RESPECT TO CONVERSIONS,
ALTERATIONS OR IMPROVEMENTS COMPLETED ON OR AFTER DECEMBER THIRTY-FIRST,
TWO THOUSAND ELEVEN:
(I) EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION WITH RESPECT TO
MULTIPLE DWELLINGS, BUILDINGS AND STRUCTURES OWNED AND OPERATED EITHER
BY LIMITED-PROFIT HOUSING COMPANIES ESTABLISHED PURSUANT TO ARTICLE TWO
OF THE PRIVATE HOUSING FINANCE LAW OR REDEVELOPMENT COMPANIES ESTAB-
LISHED PURSUANT TO ARTICLE FIVE OF THE PRIVATE HOUSING FINANCE LAW, OR
WITH RESPECT TO A GROUP OF MULTIPLE DWELLINGS THAT WAS DEVELOPED AS A
PLANNED COMMUNITY AND THAT IS OWNED AS TWO SEPARATE CONDOMINIUMS
CONTAINING A TOTAL OF TEN THOUSAND OR MORE DWELLING UNITS, ANY MULTIPLE
DWELLING, BUILDING OR STRUCTURE THAT IS OWNED AS A COOPERATIVE OR A
CONDOMINIUM THAT HAS AN AVERAGE ASSESSED VALUE OF THIRTY THOUSAND
DOLLARS OR MORE PER DWELLING UNIT SHALL ONLY BE ELIGIBLE FOR SUCH BENE-
FITS IF THE ALTERATIONS OR IMPROVEMENTS FOR WHICH SUCH MULTIPLE DWELL-
ING, BUILDING OR STRUCTURE HAS APPLIED FOR THE BENEFITS PURSUANT TO THIS
SECTION WERE CARRIED OUT WITH SUBSTANTIAL GOVERNMENTAL ASSISTANCE; AND
(II) NO BENEFITS PURSUANT TO THIS SECTION SHALL BE GRANTED FOR THE
CONVERSION OF ANY NON-RESIDENTIAL BUILDING OR STRUCTURE INTO A CLASS A
MULTIPLE DWELLING UNLESS SUCH CONVERSION WAS CARRIED OUT WITH SUBSTAN-
TIAL GOVERNMENTAL ASSISTANCE.
18. ANY LOCAL LAW OR ORDINANCE PROVIDING FOR BENEFITS PURSUANT TO THIS
SECTION MUST ALSO PROVIDE, WITH RESPECT TO CONVERSIONS, ALTERATIONS OR
IMPROVEMENTS FOR WHICH APPLICATION WAS MADE AFTER THE EFFECTIVE DATE OF
THIS SUBDIVISION, THAT IF SUCH CONVERSIONS, ALTERATIONS OR IMPROVEMENTS
ARE NOT COMPLETED ON THE DATE UPON WHICH SUCH LOCAL HOUSING AGENCY
INSPECTS THE ITEMS OF WORK CLAIMED IN SUCH APPLICATION, THE LOCAL HOUS-
ING AGENCY SHALL REQUIRE THE APPLICANT TO PAY TWO TIMES THE ACTUAL COST
FOR ANY ADDITIONAL INSPECTIONS NEEDED TO VERIFY THE COMPLETION OF SUCH
CONVERSION, ALTERATION OR IMPROVEMENT.
19. THE REVOCATION OF BENEFITS GRANTED TO ANY MULTIPLE DWELLING,
BUILDING OR STRUCTURE PURSUANT TO THIS SECTION SHALL NOT EXEMPT ANY
DWELLING UNIT THEREIN FROM CONTINUED COMPLIANCE WITH THE REQUIREMENTS OF
THIS SECTION OR OF ANY LOCAL LAW OR ORDINANCE PROVIDING FOR BENEFITS
PURSUANT TO THIS SECTION.
20. NOTWITHSTANDING THE PROVISIONS OF ANY GENERAL, SPECIAL OR LOCAL
LAW OR ANY LOCAL ORDINANCE PROVIDING FOR BENEFITS PURSUANT TO THIS
SECTION THE DEPARTMENT MAY REQUIRE THAT THE APPLICATIONS FOR EXEMPTION
OR ABATEMENT UNDER THIS SECTION THAT ARE FILED ON OR AFTER A DATE SPECI-
FIED IN SUCH LOCAL LAW OR ORDINANCE BE FILED ELECTRONICALLY.
S 4. Paragraph (a) of subdivision 1 of section 467-a of the real prop-
erty tax law, as added by chapter 273 of the laws of 1996, is amended to
read as follows:
(a) "Applicant" means the board of managers of a condominium or the
board of directors of a cooperative apartment corporation, PROVIDED
S. 2320 4
THAT, IN ADDITION, THE COMMISSIONER OF FINANCE MAY BY RULE DESIGNATE THE
OWNER OF A DWELLING UNIT AS AN APPLICANT.
S 5. Paragraphs (a) and (b) of subdivision 2 of section 467-a of the
real property tax law, as added by chapter 273 of the laws of 1996, are
amended to read as follows:
(a) In a city having a population of one million or more, dwelling
units owned by unit owners who, as of the applicable taxable status
date, own no more than three dwelling units in any one property held in
the condominium form of ownership, shall be eligible to receive a
partial abatement of real property taxes, as set forth in paragraphs (c)
[and], (d), (D-1), (D-2), (D-3), (D-4), (D-5) AND (D-6) of this subdivi-
sion; provided, however, that a property held in the condominium form of
ownership that is receiving complete or partial real property tax
exemption or tax abatement pursuant to any other provision of this chap-
ter or any other state or local law, except as provided in paragraph (f)
of this subdivision, shall not be eligible to receive a partial abate-
ment pursuant to this section; and provided, further, that sponsors
shall not be eligible to receive a partial abatement pursuant to this
section; AND PROVIDED, FURTHER, THAT IN THE FISCAL YEAR COMMENCING IN
CALENDAR YEARS TWO THOUSAND TWELVE, TWO THOUSAND THIRTEEN, OR TWO THOU-
SAND FOURTEEN NO MORE THAN A MAXIMUM OF THREE DWELLING UNITS OWNED BY
ANY UNIT OWNER IN A SINGLE BUILDING, ONE OF WHICH MUST BE THE PRIMARY
RESIDENCE OF SUCH UNIT OWNER, SHALL BE ELIGIBLE TO RECEIVE A PARTIAL
ABATEMENT PURSUANT TO PARAGRAPHS (D-1), (D-2), (D-3) AND (D-4) OF THIS
SECTION.
(b) In a city having a population of one million or more, dwelling
units owned by tenant-stockholders who, as of the applicable taxable
status date, own no more than three dwelling units in any one property
held in the cooperative form of ownership, shall be eligible to receive
a partial abatement of real property taxes, as set forth in paragraphs
(c) [and], (d), (D-1), (D-2), (D-3), (D-4), (D-5) AND (D-6) of this
subdivision; provided, however, that a property held in the cooperative
form of ownership that is receiving complete or partial real property
tax exemption or tax abatement pursuant to any other provision of this
chapter or any other state or local law, except as provided in paragraph
(f) of this subdivision, shall not be eligible to receive a partial
abatement pursuant to this section; and provided, further, that sponsors
shall not be eligible to receive a partial abatement pursuant to this
section; AND PROVIDED, FURTHER, THAT IN THE FISCAL YEAR COMMENCING IN
CALENDAR YEARS TWO THOUSAND TWELVE, TWO THOUSAND THIRTEEN OR TWO THOU-
SAND FOURTEEN NO MORE THAN A MAXIMUM OF THREE DWELLING UNITS OWNED BY
ANY TENANT-STOCKHOLDER IN A SINGLE BUILDING, ONE OF WHICH MUST BE THE
PRIMARY RESIDENCE OF SUCH TENANT-STOCKHOLDER, SHALL BE ELIGIBLE TO
RECEIVE A PARTIAL ABATEMENT PURSUANT TO PARAGRAPHS (D-1), (D-2), (D-3)
AND (D-4) OF THIS SECTION. For purposes of this section, a tenant-
stockholder of a cooperative apartment corporation shall be deemed to
own the dwelling unit which is represented by his or her shares of stock
in such corporation. Any abatement so granted shall be credited by the
appropriate taxing authority against the tax due on the property as a
whole. The reduction in real property taxes received thereby shall be
credited by the cooperative apartment corporation against the amount of
such taxes attributable to eligible dwelling units at the time of
receipt.
S 6. Intentionally omitted.
S. 2320 5
S 7. Subdivision 2 of section 467-a of the real property tax law is
amended by adding six new paragraphs (d-1), (d-2), (d-3), (d-4), (d-5)
and (d-6) to read as follows:
(D-1) IN THE FISCAL YEARS COMMENCING IN CALENDAR YEAR TWO THOUSAND
TWELVE, TWO THOUSAND THIRTEEN AND TWO THOUSAND FOURTEEN, ELIGIBLE DWELL-
ING UNITS IN PROPERTY WHOSE AVERAGE UNIT ASSESSED VALUE IS LESS THAN OR
EQUAL TO FIFTY THOUSAND DOLLARS SHALL RECEIVE A PARTIAL ABATEMENT OF THE
REAL PROPERTY TAXES ATTRIBUTABLE TO OR DUE ON SUCH DWELLING UNITS OF
TWENTY-FIVE PERCENT, TWENTY-SIX AND ONE-HALF PERCENT AND TWENTY-EIGHT
AND ONE-TENTH PERCENT RESPECTIVELY.
(D-2) IN THE FISCAL YEARS COMMENCING IN CALENDAR YEAR TWO THOUSAND
TWELVE, TWO THOUSAND THIRTEEN AND TWO THOUSAND FOURTEEN, ELIGIBLE DWELL-
ING UNITS IN PROPERTY WHOSE AVERAGE UNIT ASSESSED VALUE IS MORE THAN
FIFTY THOUSAND DOLLARS, BUT LESS THAN OR EQUAL TO FIFTY-FIVE THOUSAND
DOLLARS, SHALL RECEIVE A PARTIAL ABATEMENT OF THE REAL PROPERTY TAXES
ATTRIBUTABLE TO OR DUE ON SUCH DWELLING UNITS OF TWENTY-TWO AND ONE-HALF
PERCENT, TWENTY-THREE AND EIGHT-TENTHS PERCENT AND TWENTY-FIVE AND TWO-
TENTHS PERCENT RESPECTIVELY.
(D-3) IN THE FISCAL YEARS COMMENCING IN CALENDAR YEAR TWO THOUSAND
TWELVE, TWO THOUSAND THIRTEEN AND TWO THOUSAND FOURTEEN, ELIGIBLE DWELL-
ING UNITS IN PROPERTY WHOSE AVERAGE UNIT ASSESSED VALUE IS MORE THAN
FIFTY-FIVE THOUSAND DOLLARS, BUT LESS THAN OR EQUAL TO SIXTY THOUSAND
DOLLARS, SHALL RECEIVE A PARTIAL ABATEMENT OF THE REAL PROPERTY TAXES
ATTRIBUTABLE TO OR DUE ON SUCH DWELLING UNITS OF TWENTY PERCENT, TWEN-
TY-ONE AND TWO-TENTHS PERCENT, AND TWENTY-TWO AND FIVE-TENTHS PERCENT
RESPECTIVELY.
(D-4) IN THE FISCAL YEARS COMMENCING IN CALENDAR YEAR TWO THOUSAND
TWELVE, TWO THOUSAND THIRTEEN AND TWO THOUSAND FOURTEEN, ELIGIBLE DWELL-
ING UNITS IN PROPERTY WHOSE AVERAGE UNIT ASSESSED VALUE IS MORE THAN
SIXTY THOUSAND DOLLARS SHALL RECEIVE A PARTIAL ABATEMENT OF THE REAL
PROPERTY TAXES ATTRIBUTABLE TO OR DUE ON SUCH DWELLING UNITS OF SEVEN-
TEEN AND ONE-HALF PERCENT.
(D-5) IN THE FISCAL YEARS COMMENCING IN CALENDAR YEAR TWO THOUSAND
TWELVE AND TWO THOUSAND THIRTEEN, DWELLING UNITS THAT RECEIVED AN ABATE-
MENT PURSUANT TO THIS SECTION IN THE FISCAL YEAR COMMENCING IN CALENDAR
YEAR TWO THOUSAND ELEVEN, AND THAT ARE NOT ELIGIBLE TO RECEIVE BENEFITS
UNDER PARAGRAPH (D-1), (D-2), (D-3), OR (D-4) OF THIS SUBDIVISION AND
THAT ARE LOCATED IN A PROPERTY THAT HAS AN AVERAGE UNIT ASSESSED VALUE
THAT IS LESS THAN OR EQUAL TO FIFTEEN THOUSAND DOLLARS SHALL RECEIVE A
PARTIAL ABATEMENT OF THE REAL PROPERTY TAXES ATTRIBUTABLE TO OR DUE ON
SUCH DWELLING UNITS OF TWELVE AND ONE HALF PERCENT, AND SIX AND TWENTY-
FIVE HUNDREDTHS PERCENT RESPECTIVELY. PROVIDED, HOWEVER, THAT NO SUCH
ABATEMENT SHALL BE ALLOWED FOR ANY FISCAL YEAR COMMENCING IN CALENDAR
YEAR TWO THOUSAND FOURTEEN OR LATER.
(D-6) IN THE FISCAL YEARS COMMENCING IN CALENDAR YEAR TWO THOUSAND
TWELVE AND TWO THOUSAND THIRTEEN, DWELLING UNITS THAT RECEIVED AN ABATE-
MENT PURSUANT TO THIS SECTION IN THE FISCAL YEAR COMMENCING IN CALENDAR
YEAR TWO THOUSAND ELEVEN, AND THAT ARE NOT ELIGIBLE TO RECEIVE BENEFITS
UNDER PARAGRAPH (D-1), (D-2), (D-3), OR (D-4) OF THIS SUBDIVISION AND
THAT ARE LOCATED IN A PROPERTY THAT HAS AN AVERAGE UNIT ASSESSED VALUE
THAT IS GREATER THAN FIFTEEN THOUSAND DOLLARS SHALL RECEIVE A PARTIAL
ABATEMENT OF THE REAL PROPERTY TAXES ATTRIBUTABLE TO OR DUE ON SUCH
DWELLING UNITS OF EIGHT AND SEVENTY-FIVE HUNDREDTHS PERCENT, AND FOUR
AND THREE HUNDRED SEVENTY-FIVE THOUSANDTHS PERCENT RESPECTIVELY.
PROVIDED, HOWEVER, THAT NO SUCH ABATEMENT SHALL BE ALLOWED, FOR ANY
FISCAL YEAR IN CALENDAR YEAR TWO THOUSAND FOURTEEN OR LATER.
S. 2320 6
S 8. Paragraph (e) of subdivision 2 of section 467-a of the real prop-
erty tax law, as added by chapter 273 of the laws of 1996, is amended to
read as follows:
(e) Partial abatement pursuant to paragraphs (c) [and], (d), (D-1),
(D-2), (D-3), (D-4), (D-5) AND (D-6) of this subdivision shall be
computed on the net real property taxes attributable to or due on eligi-
ble dwelling units after deduction for any exemption on such dwelling
units received pursuant to any section listed in paragraph (f) of this
subdivision and after deduction of the portion of any abatement received
pursuant to section four hundred eighty-nine of this article that is
attributable to a dwelling unit in property held in the cooperative form
of ownership and after deduction of any abatement received pursuant to
section four hundred eighty-nine of this article by a dwelling unit in
property held in the condominium form of ownership.
S 9. Paragraphs (a), (b) and (c) of subdivision 3 of section 467-a of
the real property tax law, paragraphs (a) and (c) as amended by chapter
109 of the laws of 2008 and paragraph (b) as amended by section 6 of
part LL of chapter 407 of the laws of 1999, are amended to read as
follows:
(a) An application for an abatement pursuant to this section for the
fiscal year commencing in calendar year nineteen hundred ninety-six
shall be made no later than the fifteenth day of September, nineteen
hundred ninety-six. An application for an abatement pursuant to this
section for the fiscal year commencing in calendar year nineteen hundred
ninety-seven shall be made no later than the first day of April, nine-
teen hundred ninety-seven. An application for an abatement pursuant to
this section for the fiscal year commencing in calendar year nineteen
hundred ninety-eight shall be made no later than the first day of April,
nineteen hundred ninety-eight. An application for an abatement pursuant
to this section for the fiscal year commencing in calendar year nineteen
hundred ninety-nine shall be made in accordance with this subdivision
and subdivision three-a of this section. An application for an abatement
pursuant to this section for the fiscal year commencing in calendar year
two thousand shall be made no later than the fifteenth day of February,
two thousand. An application for an abatement pursuant to this section
for the fiscal year commencing in calendar year two thousand one shall
be made in accordance with this subdivision and subdivision three-b of
this section. An application for an abatement pursuant to this section
for the fiscal year commencing in calendar year two thousand two shall
be made no later than the fifteenth day of February, two thousand two.
An application for an abatement pursuant to this section for the fiscal
year commencing in calendar year two thousand three shall be made no
later than the fifteenth day of February, two thousand three. An appli-
cation for an abatement pursuant to this section for the fiscal year
commencing in calendar year two thousand four shall be made in accord-
ance with this subdivision and subdivision three-c of this section. An
application for an abatement pursuant to this section for the fiscal
year commencing in calendar year two thousand five shall be made no
later than the fifteenth day of February, two thousand five. An applica-
tion for an abatement pursuant to this section for the fiscal year
commencing in calendar year two thousand six shall be made no later than
the fifteenth day of February, two thousand six. An application for an
abatement pursuant to this section for the fiscal year commencing in
calendar year two thousand seven shall be made no later than the
fifteenth day of February, two thousand seven. An application for abate-
ment pursuant to this section for the fiscal year commencing in calendar
S. 2320 7
year two thousand eight shall be made in accordance with this subdivi-
sion and subdivision three-d of this section. An application for an
abatement pursuant to this section for the fiscal year commencing in
calendar year two thousand nine shall be made no later than the
fifteenth day of February, two thousand nine. An application for an
abatement pursuant to this section for the fiscal year commencing in
calendar year two thousand ten shall be made no later than the fifteenth
day of February, two thousand ten. An application for an abatement
pursuant to this section for the fiscal year commencing in calendar year
two thousand eleven shall be made no later than the fifteenth day of
February, two thousand eleven. AN APPLICATION FOR AN ABATEMENT PURSUANT
TO THIS SECTION FOR THE FISCAL YEARS COMMENCING IN CALENDAR YEARS TWO
THOUSAND TWELVE AND TWO THOUSAND THIRTEEN SHALL BE MADE IN ACCORDANCE
WITH SUBDIVISION THREE-E OF THIS SECTION. THE DATE OR DATES BY WHICH
APPLICATIONS FOR AN ABATEMENT PURSUANT TO THIS SECTION SHALL BE MADE FOR
THE FISCAL YEAR BEGINNING IN CALENDAR YEAR TWO THOUSAND FOURTEEN SHALL
BE ESTABLISHED BY THE COMMISSIONER OF FINANCE BY RULE, PROVIDED THAT
SUCH DATE OR DATES SHALL NOT BE LATER THAN THE FIFTEENTH DAY OF FEBRUARY
FOR SUCH CALENDAR YEAR.
(b) An application for an abatement pursuant to this section shall be
submitted to the commissioner of finance by the board of managers of a
condominium or the board of directors of a cooperative apartment corpo-
ration, PROVIDED THAT THE COMMISSIONER OF FINANCE MAY BY RULE REQUIRE
THE OWNER OF A DWELLING UNIT TO SUBMIT AN APPLICATION TO SUPPLEMENT
INFORMATION CONTAINED IN THE APPLICATION SUBMITTED BY THE BOARD OF
MANAGERS OF A CONDOMINIUM OR THE BOARD OF DIRECTORS OF A COOPERATIVE
APARTMENT CORPORATION AND MAY BY RULE APPLY AND ADJUST, AS APPROPRIATE,
ANY PROVISIONS OF THIS SECTION THAT RELATE TO APPLICATIONS SUBMITTED BY
SUCH BOARDS TO APPLICATIONS SUBMITTED BY SUCH OWNERS.
(c) No abatement pursuant to this section shall be granted unless the
applicant files an application for an abatement within the time periods
prescribed in paragraph (a) of this subdivision or subdivision three-a,
three-b, three-c [or], three-d OR THREE-E of this section, provided,
however, that the commissioner of finance may, for good cause shown,
extend the time for filing an application.
S 10. Section 467-a of the real property tax law is amended by adding
a new subdivision 3-e to read as follows:
3-E. (A) AN APPLICANT WHOSE PROPERTY DID NOT RECEIVE AN ABATEMENT
PURSUANT TO THIS SECTION FOR THE FISCAL YEAR COMMENCING IN CALENDAR YEAR
TWO THOUSAND ELEVEN SHALL SUBMIT AN APPLICATION FOR AN ABATEMENT PURSU-
ANT TO THIS SECTION FOR THE FISCAL YEARS COMMENCING IN CALENDAR YEARS
TWO THOUSAND TWELVE AND TWO THOUSAND THIRTEEN IN ACCORDANCE WITH PARA-
GRAPH (E) OF THIS SUBDIVISION.
(B) THE ABATEMENT FOR THE FISCAL YEAR COMMENCING IN CALENDAR YEAR TWO
THOUSAND TWELVE OF A COOPERATIVE APARTMENT CORPORATION THAT RECEIVED AN
ABATEMENT PURSUANT TO THIS SECTION FOR THE FISCAL YEAR COMMENCING IN
CALENDAR YEAR TWO THOUSAND ELEVEN AND THAT SUBMITTED AN INFORMATION
RETURN ON OR BEFORE FEBRUARY FIFTEENTH, TWO THOUSAND TWELVE, THAT
INCLUDED AN ELECTION BY THE BOARD OF DIRECTORS OF SUCH COOPERATIVE
APARTMENT CORPORATION THAT SUCH INFORMATION RETURN BE DEEMED AN APPLICA-
TION FOR AN ABATEMENT PURSUANT TO THIS SECTION FOR SUCH FISCAL YEAR,
SHALL BE BASED ON THE INFORMATION CONTAINED IN SUCH INFORMATION RETURN.
(C) THE ABATEMENT FOR THE FISCAL YEAR COMMENCING IN CALENDAR YEAR TWO
THOUSAND TWELVE OF A COOPERATIVE APARTMENT CORPORATION THAT RECEIVED AN
ABATEMENT PURSUANT TO THIS SECTION FOR THE FISCAL YEAR COMMENCING IN
CALENDAR YEAR TWO THOUSAND ELEVEN AND THAT SUBMITTED AN INFORMATION
S. 2320 8
RETURN ON OR BEFORE FEBRUARY FIFTEENTH, TWO THOUSAND TWELVE, THAT DID
NOT INCLUDE AN ELECTION BY THE BOARD OF DIRECTORS OF SUCH COOPERATIVE
APARTMENT CORPORATION THAT SUCH INFORMATION RETURN BE DEEMED AN APPLICA-
TION FOR AN ABATEMENT PURSUANT TO THIS SECTION FOR SUCH FISCAL YEAR,
SHALL BE BASED ON THE INFORMATION CONTAINED IN THE APPLICATION SUBMITTED
IN TWO THOUSAND ELEVEN OR ON THE INFORMATION CONTAINED IN SUCH INFORMA-
TION RETURN, OR BOTH, PROVIDED THAT NOTHING IN THIS PARAGRAPH SHALL
AUTHORIZE OR REQUIRE THE COMMISSIONER OF FINANCE TO GRANT AN ABATEMENT
WITH RESPECT TO A PROPERTY OR A DWELLING UNIT THAT IS NOT ELIGIBLE AS OF
THE APPLICABLE TAXABLE STATUS DATE FOR THE FISCAL YEAR COMMENCING IN
CALENDAR YEAR TWO THOUSAND TWELVE.
(D) THE BOARD OF MANAGERS OF A CONDOMINIUM THAT RECEIVED AN ABATEMENT
PURSUANT TO THIS SECTION FOR THE FISCAL YEAR COMMENCING IN CALENDAR YEAR
TWO THOUSAND ELEVEN SHALL SUBMIT AN APPLICATION FOR AN ABATEMENT PURSU-
ANT TO THIS SECTION FOR THE FISCAL YEAR COMMENCING IN CALENDAR YEAR TWO
THOUSAND TWELVE NO LATER THAN SIXTY DAYS FOLLOWING THE EFFECTIVE DATE OF
THE CHAPTER OF THE LAWS OF TWO THOUSAND THIRTEEN THAT ADDED THIS SUBDI-
VISION. IF SUCH BOARD OF MANAGERS DOES NOT SUBMIT SUCH APPLICATION
WITHIN SIXTY DAYS FOLLOWING THE EFFECTIVE DATE OF THE CHAPTER OF THE
LAWS OF TWO THOUSAND THIRTEEN THAT ADDED THIS SUBDIVISION, THEN THE
ABATEMENT FOR THE FISCAL YEAR COMMENCING IN CALENDAR YEAR TWO THOUSAND
TWELVE FOR SUCH CONDOMINIUM SHALL BE BASED ON THE INFORMATION CONTAINED
IN THE APPLICATION SUBMITTED IN TWO THOUSAND ELEVEN, PROVIDED THAT NOTH-
ING IN THIS PARAGRAPH SHALL AUTHORIZE OR REQUIRE THE COMMISSIONER OF
FINANCE TO GRANT AN ABATEMENT WITH RESPECT TO A PROPERTY OR A DWELLING
UNIT THAT IS NOT ELIGIBLE AS OF THE APPLICABLE TAXABLE STATUS DATE FOR
THE FISCAL YEAR COMMENCING IN CALENDAR YEAR TWO THOUSAND TWELVE.
(E) NOTWITHSTANDING PARAGRAPHS (A), (B), (C) AND (D) OF THIS SUBDIVI-
SION OR ANY OTHER INCONSISTENT PROVISION OF LAW, THE COMMISSIONER OF
FINANCE MAY REQUIRE EACH APPLICANT FOR AN ABATEMENT FOR THE FISCAL YEARS
COMMENCING IN CALENDAR YEARS TWO THOUSAND TWELVE AND TWO THOUSAND THIR-
TEEN TO SUBMIT AN APPLICATION BY A DATE AND IN A FORM DETERMINED BY SUCH
COMMISSIONER AND SUCH COMMISSIONER MAY DENY ABATEMENTS PURSUANT TO THIS
SECTION FOR FAILURE TO SUBMIT SUCH APPLICATION BY SUCH DATE PROVIDED
THAT SUCH DATE SHALL BE NO EARLIER THAN THIRTY DAYS FOLLOWING THE DATE
ON WHICH THE COMMISSIONER RELEASES THE APPLICATION FORM.
S 11. Subdivision 8 of section 467-a of the real property tax law, as
amended by chapter 453 of the laws of 2011, is amended to read as
follows:
8. Except to the extent that the owner of a dwelling unit of a proper-
ty situated in a city having a population of one million or more may
request a redacted copy of any application or statements pertaining to
such dwelling unit, as provided in subdivision four of this section, the
information contained in applications or statements in connection there-
with filed with the commissioner of finance pursuant to subdivision
three, three-a, three-b [or], three-c, THREE-D OR THREE-E of this
section shall not be subject to disclosure under article six of the
public officers law.
S 12. Section 11-1706 of the administrative code of the city of New
York is amended by adding a new subdivision (f) to read as follows:
(F) CREDIT FOR GENERAL CORPORATION TAX PAID. (1) A CITY RESIDENT
INDIVIDUAL, ESTATE OR TRUST WHOSE CITY ADJUSTED GROSS INCOME INCLUDES A
PRO RATA SHARE OF INCOME, LOSS AND DEDUCTIONS DESCRIBED IN PARAGRAPH ONE
OF SUBSECTION (A) OF SECTION THIRTEEN HUNDRED SIXTY-SIX OF THE INTERNAL
REVENUE CODE, FROM ONE OR MORE NEW YORK S CORPORATIONS AS DEFINED IN
SUBDIVISION ONE-A OF SECTION TWO HUNDRED EIGHT OF THE TAX LAW, OR FROM
S. 2320 9
ONE OR MORE QSSSS AS DEFINED IN SUBDIVISION ONE-B OF SECTION TWO HUNDRED
EIGHT OF THE TAX LAW, THAT ARE EXEMPT QSSSS BY REASON OF CLAUSE (A) OF
SUBPARAGRAPH ONE OF PARAGRAPH (K) OF SUBDIVISION NINE OF SECTION TWO
HUNDRED EIGHT OF THE TAX LAW, ON WHICH A TAX IS IMPOSED BY SUBCHAPTER
TWO OF CHAPTER SIX OF THIS TITLE, SHALL BE ALLOWED A CREDIT AS PROVIDED
IN PARAGRAPH TWO OF THIS SUBDIVISION AGAINST THE TAX OTHERWISE DUE UNDER
SECTIONS 11-1701, 11-1703, 11-1704 AND 11-1704.1 OF THIS CHAPTER.
(2)(A) SUBJECT TO THE LIMITATIONS SET FORTH IN SUBPARAGRAPHS (B) AND
(C) OF THIS PARAGRAPH, THE CREDIT ALLOWED TO A TAXPAYER FOR A TAXABLE
YEAR UNDER THIS SUBDIVISION SHALL BE DETERMINED AS FOLLOWS:
(I) FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOU-
SAND FOURTEEN AND BEFORE JULY FIRST, TWO THOUSAND FIFTEEN:
(I) IF THE CITY TAXABLE INCOME IS THIRTY-FIVE THOUSAND DOLLARS OR
LESS, THE AMOUNT OF THE CREDIT SHALL BE ONE HUNDRED PERCENT OF THE
AMOUNT DETERMINED IN PARAGRAPH THREE OF THIS SUBDIVISION.
(II) IF THE CITY TAXABLE INCOME IS GREATER THAN THIRTY-FIVE THOUSAND
DOLLARS BUT LESS THAN ONE HUNDRED THOUSAND DOLLARS, THE AMOUNT OF THE
CREDIT SHALL BE A PERCENTAGE OF THE AMOUNT DETERMINED IN PARAGRAPH THREE
OF THIS SUBDIVISION, SUCH PERCENTAGE TO BE DETERMINED BY SUBTRACTING
FROM ONE HUNDRED PERCENT, A PERCENTAGE DETERMINED BY SUBTRACTING THIR-
TY-FIVE THOUSAND DOLLARS FROM CITY TAXABLE INCOME, DIVIDING THE RESULT
BY SIXTY-FIVE THOUSAND DOLLARS AND MULTIPLYING BY ONE HUNDRED PERCENT.
(III) IF THE CITY TAXABLE INCOME IS ONE HUNDRED THOUSAND DOLLARS OR
GREATER, NO CREDIT SHALL BE ALLOWED.
(IV) PROVIDED FURTHER THAT FOR ANY TAXABLE YEAR OF A TAXPAYER FOR
WHICH THIS CREDIT IS EFFECTIVE THAT ENCOMPASSES DAYS OCCURRING AFTER
JUNE THIRTIETH, TWO THOUSAND FIFTEEN, THE AMOUNT OF THE CREDIT DETER-
MINED IN ITEM (I) OR (II) OF THIS CLAUSE SHALL BE MULTIPLIED BY A FRAC-
TION, THE NUMERATOR OF WHICH IS THE NUMBER OF DAYS IN THE TAXPAYER'S
TAXABLE YEAR OCCURRING ON OR BEFORE JUNE THIRTIETH, TWO THOUSAND
FIFTEEN, AND THE DENOMINATOR OF WHICH IS THE NUMBER OF DAYS IN THE
TAXPAYER'S TAXABLE YEAR.
(B) NOTWITHSTANDING ANYTHING TO THE CONTRARY IN SUBPARAGRAPH (A) OF
THIS PARAGRAPH, THE CREDIT ALLOWED TO A TAXPAYER FOR A TAXABLE YEAR
UNDER THIS SUBDIVISION SHALL NOT EXCEED THE SUM OF THE TAXES THAT WOULD
OTHERWISE BE IMPOSED BY SECTIONS 11-1701, 11-1703, 11-1704 AND 11-1704.1
OF THIS CHAPTER ON SUCH TAXPAYER FOR SUCH TAXABLE YEAR AFTER THE ALLOW-
ANCE OF ANY OTHER CREDITS ALLOWED BY SUBDIVISIONS (A) AND (B) OF THIS
SECTION, AND SUBDIVISION (C) OF THIS SECTION, AS ADDED BY CHAPTER FOUR
HUNDRED EIGHTY-ONE OF THE LAWS OF NINETEEN HUNDRED NINETY-SEVEN AND
SUBSEQUENTLY AMENDED, AND SECTION 11-1721 OF THIS CHAPTER.
(C) NOTWITHSTANDING ANYTHING TO THE CONTRARY IN SUBPARAGRAPH (A) OF
THIS PARAGRAPH, NO CREDIT SHALL BE ALLOWED FOR ANY AMOUNT OF TAX
IMPOSED, OR CREDIT ALLOWED, BY SUBCHAPTER TWO OF CHAPTER SIX OF THIS
TITLE ON, OR TO, A COMBINED GROUP OF CORPORATIONS INCLUDING A NEW YORK S
CORPORATION OR AN EXEMPT QSSS, EXCEPT WHERE THE COMBINED GROUP CONSISTS
EXCLUSIVELY OF ONE OR MORE NEW YORK S CORPORATIONS AND ONE OR MORE
EXEMPT QSSSS OF SUCH CORPORATIONS AS DESCRIBED IN PARAGRAPH ONE OF THIS
SUBDIVISION, PROVIDED THAT EACH OF THE NEW YORK S CORPORATIONS INCLUDED
IN THE GROUP IS WHOLLY OWNED BY THE SAME INTERESTS AND IN THE SAME
PROPORTIONS AS EACH OTHER NEW YORK S CORPORATION INCLUDED IN THE GROUP.
(3) SUBJECT TO THE PROVISIONS OF SUBPARAGRAPH (B) OF THIS PARAGRAPH
AND SUBPARAGRAPH (C) OF PARAGRAPH TWO OF THIS SUBDIVISION, THE AMOUNT
DETERMINED IN THIS PARAGRAPH IS THE SUM OF THE TAXPAYER'S PRO RATA SHARE
OF THE AMOUNTS DETERMINED IN SUBPARAGRAPH (A) OF THIS PARAGRAPH FOR EACH
NEW YORK S CORPORATION, OR EXEMPT QSSS, DESCRIBED IN PARAGRAPH ONE OF
S. 2320 10
THIS SUBSECTION, A PRO RATA SHARE OF WHOSE INCOME, LOSS AND DEDUCTIONS
DESCRIBED IN PARAGRAPH ONE OF SUBSECTION (A) OF SECTION THIRTEEN HUNDRED
SIXTY-SIX OF THE INTERNAL REVENUE CODE, IS INCLUDED IN THE TAXPAYER'S
CITY ADJUSTED GROSS INCOME.
(A) THE AMOUNT DETERMINED IN THIS SUBPARAGRAPH IS THE SUM OF:
(I) THE TAXES IMPOSED BY SUBCHAPTER TWO OF CHAPTER SIX OF THIS TITLE
ON SUCH CORPORATION, OR A COMBINED GROUP INCLUDING SUCH CORPORATION, FOR
ITS TAXABLE YEAR ENDING WITHIN OR WITH THE TAXABLE YEAR OF THE TAXPAYER
AND PAID BY SUCH CORPORATION, OR COMBINED GROUP; AND
(II) THE AMOUNT OF ANY CREDIT OR CREDITS TAKEN BY SUCH CORPORATION, OR
A COMBINED GROUP INCLUDING SUCH CORPORATION, UNDER SUBDIVISION EIGHTEEN
OF SECTION 11-604 OF THIS TITLE FOR ITS TAXABLE YEAR ENDING WITHIN OR
WITH THE TAXABLE YEAR OF THE TAXPAYER.
(B) FOR PURPOSES OF THIS SUBDIVISION, THE TAXPAYER'S PRO RATA SHARE OF
THE AMOUNT IN SUBPARAGRAPH (A) OF THIS PARAGRAPH FOR THE TAXABLE YEAR
SHALL BE THE AMOUNT DETERMINED WITH RESPECT TO THE TAXPAYER:
(I) BY ASSIGNING AN EQUAL PORTION OF THE AMOUNT IN SUBPARAGRAPH (A) OF
THIS PARAGRAPH TO EACH DAY OF THE CORPORATION'S TAXABLE YEAR ON WHICH
THE CORPORATION HAS SHARES OUTSTANDING,
(II) THEN BY DIVIDING THAT PORTION PRO RATA AMONG THE SHARES OUTSTAND-
ING ON THAT DAY; PROVIDED, HOWEVER,
(III) IF THE TAXABLE YEAR OF SUCH CORPORATION FOR PURPOSES OF CHAPTER
SIX OF THIS TITLE IS DIFFERENT FROM ITS NEW YORK S YEAR OR S SHORT YEAR
AS DEFINED IN SUBDIVISION ONE-A OF SECTION TWO HUNDRED EIGHT OF THE TAX
LAW, OR SUBSECTION (F) OF SECTION FOURTEEN HUNDRED FIFTY OF THE TAX LAW,
ONLY THOSE PORTIONS THAT ARE ASSIGNED TO DAYS OF THE TAXABLE YEAR THAT
ARE ALSO DAYS OF THE NEW YORK S YEAR OR S SHORT YEAR SHALL BE TAKEN INTO
ACCOUNT IN DETERMINING THE SHAREHOLDER'S PRO RATA SHARE OF THE AMOUNT
DETERMINED IN SUBPARAGRAPH (A) OF THIS PARAGRAPH.
S 13. If any provision of section twelve of this act is adjudged by
any court of competent jurisdiction to be invalid or unconstitutional,
the credit provided for in such sections shall not be allowed for any
tax period or periods with respect to which such judgment is in effect.
S 14. The provisions of subdivision (c) of section 11-245 of the
administrative code of the city of New York shall not be applicable to
any multiple dwelling located on lots numbered 13 and 14 of Manhattan
block numbered 51, lots numbered 17, 18, and 21 of Manhattan block
number 90, lots numbered 7, 8, 10, 11, 57 and 111 of Manhattan block
numbered 1010, and lots numbered 33, 34 and 35 of Manhattan block
numbered 1259 as such lots and blocks are numbered as of the date this
act shall have become law, provided that the construction of such multi-
ple dwellings on those lots commences on or after January 1, 2007, and
on or before June 21, 2017, and provided that for all such multiple
dwellings the department of housing preservation and development of New
York City shall impose a requirement and either certify (i) that twenty
percent of the units on site are affordable to households of low and
moderate income pursuant to subdivision 7 of section 421-a of the real
property tax law, or (ii) the requirements of subdivision 12 of section
421-a of the real property tax law are met. The provisions of subdivi-
sion (c) of section 11-245 of the administrative code of the city of New
York shall not be applicable to any multiple dwelling that is located on
lot 10 of Manhattan block number 123, as such lot and block are numbered
as of the date this act shall have become law, provided that
construction of such multiple dwelling commenced on or after January 1,
2007, and on or before June 21, 2012, and provided further that the
individual or agent thereof seeking benefits pursuant to section 421-a
S. 2320 11
of the real property tax law enters into and fulfills the requirements
of a memorandum of understanding with the city of New York Department of
Housing Preservation and Development to fund in an amount not less than
$9 million the construction of affordable rental housing within the City
of New York, provided, however, that such amount required shall be
reduced by the value of negotiable certificates that the individual or
agent thereof seeking benefits purchased, pursuant to section 6-08 of
title 28 of the rules of the city of New York as such rules existed as
of the date this act shall have become law, in order to entitle such
multiple dwelling to the benefits pursuant to section 421-a of the real
property tax law for a specified number of units in the geographic
exclusion area, provided that such negotiable certificates were gener-
ated by a written agreement with the Department of Housing Preservation
and Development, and provided further that, notwithstanding any other
provision of law, benefits granted pursuant to section 421-a of the real
property tax law for such multiple dwelling shall be granted as if
construction commenced on June 21, 2012. For the construction of any
multiple dwelling on the above referenced lots, with the exception of
lots numbered 17, 18 and 21 of Manhattan block numbered 90, which
receives benefits pursuant to section 421-a of the real property tax
law, any work which may involve the employment of laborers, workers or
mechanics shall be considered public work for the purposes of article
eight of the labor law, and any contracts or subcontracts which may
involve the employment of laborers, workers or mechanics shall be
enforceable under article eight of the labor law, provided, however,
that such provisions shall not apply to construction performed pursuant
to a project labor agreement that is a pre-hire collective bargaining
agreement governing the terms and conditions of employment entered into
by a construction user and/or its representative and a bona fide build-
ing and construction trade labor organization establishing the labor
organization as the collective bargaining representative for laborers,
workers and mechanics.
S 15. Subparagraph (i) of paragraph (a) of subdivision 2 of section
421-a of the real property tax law, as amended by section 38 of part B
of chapter 97 of the laws of 2011, is amended to read as follows:
(i) Within a city having a population of one million or more, new
multiple dwellings, except hotels, shall be exempt from taxation for
local purposes, other than assessments for local improvements, for the
tax year or years immediately following taxable status dates occurring
subsequent to the commencement and prior to the completion of
construction, but not to exceed three such tax years, [except for new
multiple dwellings the construction of which commenced between January
first, two thousand seven, and June thirtieth, two thousand nine, shall
have an additional thirty-six months to complete construction and shall
be eligible for full exemption from taxation for the first three years
of the period of construction; any eligible project that seeks to
utilize the six-year period of construction authorized by this section
must apply for a preliminary certificate of eligibility within one year
of the effective date of the rent act of 2011, provided, however that
such multiple dwellings shall be eligible for a maximum of three years
of benefits during the construction period,] and shall continue to be
exempt from such taxation in tax years immediately following the taxable
status date first occurring after the expiration of the exemption herein
conferred during construction so long as used at the completion of
construction for dwelling purposes for a period not to exceed ten years
S. 2320 12
in the aggregate after the taxable status date immediately following the
completion thereof, as follows:
(A) except as otherwise provided herein there shall be full exemption
from taxation during the period of construction or the period of three
years immediately following commencement of construction, whichever
expires sooner, [except for new multiple dwellings the construction of
which commenced between January first, two thousand seven, and June
thirtieth, two thousand nine, shall have an additional thirty-six months
to complete construction and shall be eligible for full exemption from
taxation for the first three years of the period of construction; any
eligible project that seeks to utilize the six-year period of
construction authorized by this section must apply for a preliminary
certificate of eligibility within one year of the effective date of the
rent act of 2011, provided, however that such multiple dwellings shall
be eligible for a maximum of three years of benefits during the
construction period,] and for two years following such period;
(B) followed by two years of exemption from eighty per cent of such
taxation;
(C) followed by two years of exemption from sixty per cent of such
taxation;
(D) followed by two years of exemption from forty per cent of such
taxation;
(E) followed by two years of exemption from twenty per cent of such
taxation;
The following table shall illustrate the computation of the tax
exemption:
CONSTRUCTION OF CERTAIN MULTIPLE DWELLINGS
Exemption
During Construction (maximum three years)[; 100%
except construction commenced between January
first, two thousand seven and June
thirtieth, two thousand nine (maximum
three years)]
Following completion of work
Year:
1 100%
2 100
3 80
4 80
5 60
6 60
7 40
8 40
9 20
10 20
S 16. Clause (A) of subparagraph (ii) of paragraph (a) of subdivision
2 of section 421-a of the real property tax law, as amended by section
39 of part B of chapter 97 of the laws of 2011, is amended to read as
follows:
(A) Within a city having a population of one million or more the local
housing agency may adopt rules and regulations providing that except in
areas excluded by local law new multiple dwellings, except hotels, shall
S. 2320 13
be exempt from taxation for local purposes, other than assessments for
local improvements, for the tax year or years immediately following
taxable status dates occurring subsequent to the commencement and prior
to the completion of construction, but not to exceed three such tax
years, [except for new multiple dwellings the construction of which
commenced between January first, two thousand seven, and June thirtieth,
two thousand nine, shall have an additional thirty-six months to
complete construction and shall be eligible for full exemption from
taxation for the first three years of the period of construction; any
eligible project that seeks to utilize the six-year period of
construction authorized by this section must apply for a preliminary
certificate of eligibility within one year of the effective date of the
rent act of 2011, provided, however that such multiple dwellings shall
be eligible for a maximum of three years of benefits during the
construction period,] and shall continue to be exempt from such taxation
in tax years immediately following the taxable status date first occur-
ring after the expiration of the exemption herein conferred during such
construction so long as used at the completion of construction for
dwelling purposes for a period not to exceed fifteen years in the aggre-
gate, as follows:
a. except as otherwise provided herein there shall be full exemption
from taxation during the period of construction or the period of three
years immediately following commencement of construction, whichever
expires sooner, [except for new multiple dwellings the construction of
which commenced between January first, two thousand seven, and June
thirtieth, two thousand nine, shall have an additional thirty-six months
to complete construction and shall be eligible for full exemption from
taxation for the first three years of the period of construction; any
eligible project that seeks to utilize the six-year period of
construction authorized by this section must apply for a preliminary
certificate of eligibility within one year of the effective date of the
rent act of 2011, provided, however that such multiple dwellings shall
be eligible for a maximum of three years of benefits during the
construction period,] and for eleven years following such period;
b. followed by one year of exemption from eighty percent of such taxa-
tion;
c. followed by one year of exemption from sixty percent of such taxa-
tion;
d. followed by one year of exemption from forty percent of such taxa-
tion;
e. followed by one year of exemption from twenty percent of such taxa-
tion.
S 17. Clause (A) of subparagraph (iii) of paragraph (a) of subdivision
2 of section 421-a of the real property tax law, as amended by section
40 of part B of chapter 97 of the laws of 2011, is amended to read as
follows:
(A) Within a city having a population of one million or more the local
housing agency may adopt rules and regulations providing that new multi-
ple dwellings, except hotels, shall be exempt from taxation for local
purposes, other than assessments for local improvements, for the tax
year or years immediately following taxable status dates occurring
subsequent to the commencement and prior to the completion of
construction, but not to exceed three such tax years, [except for new
multiple dwellings the construction of which commenced between January
first, two thousand seven, and June thirtieth, two thousand nine, shall
have an additional thirty-six months to complete construction and shall
S. 2320 14
be eligible for full exemption from taxation for the first three years
of the period of construction; any eligible project that seeks to
utilize the six-year period of construction authorized by this section
must apply for a preliminary certificate of eligibility within one year
of the effective date of the rent act of 2011, provided, however that
such multiple dwellings shall be eligible for a maximum of three years
of benefits during the construction period,] and shall continue to be
exempt from such taxation in tax years immediately following the taxable
status date first occurring after the expiration of the exemption herein
conferred during such construction so long as used at the completion of
construction for dwelling purposes for a period not to exceed twenty-
five years in the aggregate, provided that the area in which the project
is situated is a neighborhood preservation program area as determined by
the local housing agency as of June first, nineteen hundred eighty-five,
or is a neighborhood preservation area as determined by the New York
city planning commission as of June first, nineteen hundred eighty-five,
or is an area that was eligible for mortgage insurance provided by the
rehabilitation mortgage insurance corporation as of May first, nineteen
hundred ninety-two or is an area receiving funding for a neighborhood
preservation project pursuant to the neighborhood reinvestment corpo-
ration act (42 U.S.C. SS180 et seq.) as of June first, nineteen hundred
eighty-five, as follows:
a. except as otherwise provided herein there shall be full exemption
from taxation during the period of construction or the period of three
years immediately following commencement of construction, whichever
expires sooner, [except for new multiple dwellings the construction of
which commenced between January first, two thousand seven, and June
thirtieth, two thousand nine, shall have an additional thirty-six months
to complete construction and shall be eligible for full exemption from
taxation for the first three years of the period of construction; any
eligible project that seeks to utilize the six-year period of
construction authorized by this section must apply for a preliminary
certificate of eligibility within one year of the effective date of the
rent act of 2011, provided, however that such multiple dwellings shall
be eligible for a maximum of three years of benefits during the
construction period,] and for twenty-one years following such period;
b. followed by one year of exemption from eighty percent of such taxa-
tion;
c. followed by one year of exemption from sixty percent of such taxa-
tion;
d. followed by one year of exemption from forty percent of such taxa-
tion;
e. followed by one year of exemption from twenty percent of such taxa-
tion.
S 18. Subdivision 7 of section 467-a of the real property tax law, as
added by chapter 273 of the laws of 1996, is amended to read as follows:
7. The commissioner of finance shall be authorized to promulgate rules
necessary to effectuate the purposes of this section. NOTWITHSTANDING
ANY OTHER PROVISION OF LAW TO THE CONTRARY, SUCH RULES MAY INCLUDE, BUT
NEED NOT BE LIMITED TO, DENIAL, TERMINATION OR REVOCATION OF ANY ABATE-
MENT PURSUANT TO THIS SECTION IF ANY DWELLING UNIT IN A PROPERTY HELD IN
THE CONDOMINIUM FORM OF OWNERSHIP OR A PROPERTY HELD IN THE COOPERATIVE
FORM OF OWNERSHIP HAS REAL PROPERTY TAXES, WATER AND SEWER CHARGES,
PAYMENTS IN LIEU OF TAXES OR OTHER MUNICIPAL CHARGES DUE AND OWING,
UNLESS SUCH REAL PROPERTY TAXES, WATER AND SEWER CHARGES, PAYMENTS IN
LIEU OF TAXES OR OTHER MUNICIPAL CHARGES ARE CURRENTLY BEING PAID IN
S. 2320 15
TIMELY INSTALLMENTS PURSUANT TO A WRITTEN AGREEMENT WITH THE DEPARTMENT
OF FINANCE OR OTHER APPROPRIATE AGENCY.
S 19. Subdivision 8 of section 467-a of the real property tax law, as
amended by chapter 453 of the laws of 2011, is amended to read as
follows:
8. Except to the extent that the owner of a dwelling unit of a proper-
ty situated in a city having a population of one million or more may
request a redacted copy of any application or statements pertaining to
such dwelling unit, as provided in subdivision four of this section, the
information contained in applications or statements in connection there-
with filed with the commissioner of finance pursuant to subdivision
three, three-a, three-b [or], three-c, THREE-D OR THREE-E of this
section shall not be subject to disclosure under article six of the
public officers law.
S 20. Section 467-a of the real property tax law is amended by adding
a new subdivision 9 to read as follows:
9. THE COMMISSIONER OF FINANCE SHALL BE AUTHORIZED TO PREPARE AND
SUBMIT AMENDED TAX BILLS TO TAXPAYERS TO REFLECT ANY ADJUSTMENTS NECES-
SARY TO APPLY THE PARTIAL ABATEMENT RECEIVED PURSUANT TO THIS SECTION.
IF A CONDOMINIUM OR COOPERATIVE HAS PAID AN AMOUNT THAT IS DIFFERENT
THAN THE AMOUNT DUE ON ANY AMENDED TAX BILL, THE COMMISSIONER OF FINANCE
MAY WAIVE ANY INTEREST OTHERWISE DUE ON SUCH AMOUNT.
S 21. Subdivision 5 of section 281 of the multiple dwelling law, as
amended by chapter 139 of the laws of 2011, is amended to read as
follows:
5. Notwithstanding the provisions of paragraphs (i), (iii) and (iv) of
subdivision two of this section, but subject to paragraphs (i) and (ii)
of subdivision one of this section and paragraph (ii) of subdivision two
of this section, the term "interim multiple dwelling" shall include
buildings, structures or portions thereof that are located in a city of
more than one million persons which were occupied for residential
purposes as the residence or home of any three or more families living
independently from one another for a period of twelve consecutive months
during the period commencing January first, two thousand eight, and
ending December thirty-first, two thousand nine, provided that the unit:
is not located in a basement or cellar and has at least one entrance
that does not require passage through another residential unit to obtain
access to the unit, has at least one window opening onto a street or a
lawful yard or court as defined in the zoning resolution for such muni-
cipality, and is at least [five hundred fifty] FOUR HUNDRED square feet
in area. The term "interim multiple dwelling" as used in this subdivi-
sion shall not include (i) any building in an industrial business zone
established pursuant to chapter six-D of title twenty-two of the admin-
istrative code of the city of New York except that a building in the
Williamsburg/Greenpoint or North Brooklyn industrial business zones and
a building located in that portion of the Long Island city industrial
business zone that has frontage on either side of forty-seventh avenue
or is located north of forty-seventh avenue and south of Skillman avenue
or in that portion of the Long Island city industrial business zone that
is located north of forty-fourth drive, south of Queens plaza north, and
west of twenty-third street may be included in the term "interim multi-
ple dwelling," or (ii) units in any building, OTHER THAN A BUILDING THAT
IS ALREADY DEFINED AS AN "INTERIM MULTIPLE DWELLING" PURSUANT TO SUBDI-
VISION ONE, TWO, THREE OR FOUR OF THIS SECTION, that, at the time this
subdivision shall take effect AND CONTINUING AT THE TIME OF THE
SUBMISSION OF AN APPLICATION FOR COVERAGE BY ANY PARTY, also contains a
S. 2320 16
use actively and currently pursued, which use is set forth in use groups
fifteen through eighteen, as described in the zoning resolution of such
municipality in effect on June twenty-first, two thousand ten, and which
the loft board has determined in rules and regulation is inherently
incompatible with residential use in the same building, provided that
THE LOFT BOARD MAY BY RULE EXEMPT CATEGORIES OF UNITS OR BUILDINGS FROM
SUCH USE INCOMPATIBILITY DETERMINATIONS INCLUDING BUT NOT LIMITED TO
RESIDENTIALLY OCCUPIED UNITS OR SUBCATEGORIES OF SUCH UNITS, AND
PROVIDED, FURTHER THAT if a building does not contain such active uses
at the time this subdivision takes effect, no subsequent use by the
owner of the building shall eliminate the protections of this section
for any residential occupants in the building already qualified for such
protections. The term "interim multiple dwelling," as used in this
subdivision shall also include buildings, structures or portions thereof
that are located north of West 24th Street and south of West 27th Street
and west of tenth avenue and east of eleventh avenue in a city of more
than one million persons which were occupied for residential purposes as
the residence or home of any two or more families living independently
from one another for a period of twelve consecutive months during the
period commencing January first, two thousand eight, and ending December
thirty-first, two thousand nine and subject to all the conditions and
limitations of this subdivision other than the number of units in the
building. A reduction in the number of occupied residential units in a
building after meeting the aforementioned twelve consecutive month
requirement shall not eliminate the protections of this section for any
remaining residential occupants qualified for such protections. Non-re-
sidential space in a building as of the effective date of this subdivi-
sion shall be offered for residential use only after the obtaining of a
residential certificate of occupancy for such space and such space shall
be exempt from this article, even if a portion of such building may be
an interim multiple dwelling.
S 22. Subdivision 2 of section 286 of the multiple dwelling law, as
amended by chapter 414 of the laws of 1999, subparagraphs (A) and (B) of
paragraph (ii) and paragraph (iii) as amended by chapter 135 of the laws
of 2010, is amended to read as follows:
2. (i) Prior to compliance with safety and fire protection standards
of article seven-B of this chapter, residential occupants qualified for
protection pursuant to this article shall be entitled to continued occu-
pancy, provided that the unit is their primary residence, and shall pay
the same rent, including escalations, specified in their lease or rental
agreement to the extent to which such lease or rental agreement remains
in effect or, in the absence of a lease or rental agreement, the same
rent most recently paid and accepted by the owner; if there is no lease
or other rental agreement in effect, rent adjustments prior to article
seven-B compliance shall be in conformity with guidelines to be set by
the loft board for such residential occupants within six months from the
effective date of this article.
(ii) In addition to any rent adjustment pursuant to paragraph (i) of
this subdivision, on or after June twenty-first, nineteen hundred nine-
ty-two, the rent for residential units in interim multiple dwellings
that are not yet in compliance with the requirements of subdivision one
of section two hundred eighty-four of this article shall be adjusted as
follows:
(A) Upon the owners' filing of an alteration application, as required
by paragraph (ii), (iii), (iv), (v), or (vi) of subdivision one of
section two hundred eighty-four of this article, an adjustment equal to
S. 2320 17
[six] THREE percent of the rent in effect at the time the owner files
the alteration application.
(B) Upon obtaining an alteration permit, as required by paragraph
(ii), (iii), (iv), (v), or (vi) of subdivision one of section two
hundred eighty-four of this article, an adjustment equal to [eight]
THREE percent of the rent in effect at the time the owner obtains the
alteration permit.
(C) Upon achieving compliance with the standards of safety and fire
protection set forth in article seven-B of this chapter for the residen-
tial portions of the building, an adjustment equal to [six] FOUR percent
of the rent in effect at the time the owner achieves such compliance.
(D) Owners who filed an alteration application prior to the effective
date of this subparagraph shall be entitled to a prospective adjustment
equal to six percent of the rent on the effective date of this subpara-
graph.
(E) Owners who obtained an alteration permit prior to June twenty-
first, nineteen hundred ninety-two shall be entitled to a prospective
adjustment equal to fourteen percent of the rent on June twenty-first,
nineteen hundred ninety-two.
(F) Owners who achieved compliance with the standards of safety and
fire protection set forth in article seven-B of this chapter for the
residential portions of the building prior to June twenty-first, nine-
teen hundred ninety-two shall be entitled to a prospective adjustment
equal to twenty percent of the rent on June twenty-first, nineteen
hundred ninety-two.
(iii) Any rent adjustments pursuant to paragraph (ii) of this subdivi-
sion shall not apply to units which were rented at market value after
June twenty-first, nineteen hundred eighty-two and prior to June twen-
ty-first, nineteen hundred ninety-two. This paragraph shall not apply to
units made subject to this article by subdivision five of section two
hundred eighty-one of this article.
(iv) Payment of any rent adjustments pursuant to paragraph (ii) of
this subdivision shall commence the month immediately following the
month in which the act entitling the owner to the adjustment occurred.
S 23. Subdivision 2 of section 285 of the multiple dwelling law, as
amended by chapter 135 of the laws of 2010, is amended to read as
follows:
2. Notwithstanding any other provision of this article, an owner may
apply to the loft board for exemption of a building or portion thereof
from this article on the basis that compliance with this article in
obtaining a legal residential certificate of occupancy would cause an
unjustifiable hardship either because: (i) it would cause an unreason-
ably adverse impact on a non-residential conforming use tenant within
the building or (ii) the cost of compliance renders legal residential
conversion infeasible. Residential and other tenants shall be given not
less than sixty days notice in advance of the hearing date for such
application. If the loft board approves such application, the building
or portion thereof shall be exempt from this article, and may be
converted to non-residential conforming uses, provided, however, that
the owner shall, as a condition of approval of such application, agree
to file an irrevocable recorded covenant in form satisfactory to the
loft board enforceable for fifteen years by the municipality, that the
building will not be re-converted to residential uses during such time.
The standard for granting such hardship application for a building or
portion thereof shall be as follows: (a) the loft board shall only grant
the minimum relief necessary to relieve any alleged hardship with the
S. 2320 18
understanding if compliance is reasonably possible it should be achieved
even if it requires alteration of units, relocation of tenants to vacant
space within the building, re-design of space or application for a non-
use-related variance, special permit, minor modification or administra-
tive certification; (b) self-created hardship shall not be allowed; (c)
the test for cost infeasibility shall be that of a reasonable return on
the owner's investment not maximum return on investment; (d) the test
for unreasonably adverse impact on a non-residential conforming use
tenant shall be whether residential conversion would necessitate
displacement. Such hardship applications shall be submitted to the loft
board within nine months of the establishment of the loft board (or, in
the case of interim multiple dwellings referred to in subdivision four
of section two hundred eighty-one of this article, within nine months of
[the effective date of such subdivision four] JULY TWENTY-SEVENTH, NINE-
TEEN HUNDRED EIGHTY-SEVEN or in the case of interim multiple dwellings
made subject to this article by subdivision five of section two hundred
eighty-one of this article, within nine months of the effective date of
such subdivision five, OR, FOR UNITS THAT BECAME SUBJECT TO THIS ARTICLE
PURSUANT TO THE CHAPTER OF THE LAWS OF TWO THOUSAND THIRTEEN WHICH
AMENDED THIS PARAGRAPH, WITHIN NINE MONTHS OF THE PROMULGATION OF ALL
NECESSARY RULES AND REGULATIONS PURSUANT TO SECTION TWO HUNDRED EIGHTY-
TWO-A OF THIS ARTICLE, but shall not be considered, absent a waiver by
the loft board, unless the owner has also filed an alteration applica-
tion. In determination of any such hardship application, the loft board
may demand such information as it deems necessary. In approving any such
hardship application, the loft board may fix reasonable terms and condi-
tions for the vacating of residential occupancy.
S 24. Paragraph (vi) of subdivision 1 of section 284 of the multiple
dwelling law, as amended by chapter 135 of the laws of 2010, is amended
to read as follows:
(vi) Notwithstanding the provisions of paragraphs (i) through (v) of
this subdivision the owner of an interim multiple dwelling made subject
to this article by subdivision five of section two hundred eighty-one of
this article (A) shall file an alteration application within nine months
from the effective date of the chapter of the laws of two thousand ten
which amended this subparagraph, OR, FOR UNITS THAT BECAME SUBJECT TO
THIS ARTICLE PURSUANT TO THE CHAPTER OF THE LAWS OF TWO THOUSAND THIR-
TEEN WHICH AMENDED THIS PARAGRAPH, WITHIN NINE MONTHS OF THE PROMULGA-
TION OF ALL NECESSARY RULES AND REGULATIONS PURSUANT TO SECTION TWO
HUNDRED EIGHTY-TWO-A OF THIS ARTICLE, and (B) shall take all reasonable
and necessary action to obtain an approved alteration permit within
twelve months from such effective date, OR, FOR UNITS THAT BECAME
SUBJECT TO THIS ARTICLE PURSUANT TO THE CHAPTER OF THE LAWS OF TWO THOU-
SAND THIRTEEN WHICH AMENDED THIS PARAGRAPH, WITHIN TWELVE MONTHS OF THE
PROMULGATION OF ALL NECESSARY RULES AND REGULATIONS PURSUANT TO SECTION
TWO HUNDRED EIGHTY-TWO-A OF THIS ARTICLE, and (C) shall achieve compli-
ance with the standards of safety and fire protection set forth in arti-
cle seven-B of this chapter for the residential portions of the building
within eighteen months from obtaining such alteration permit [or eigh-
teen months from such effective date, whichever is later], and (D) shall
take all reasonable and necessary action to obtain a certificate of
occupancy as a class A multiple dwelling for the residential portions of
the building or structure within [thirty-six] THIRTY months from such
effective date, OR FOR UNITS THAT BECAME SUBJECT TO THIS ARTICLE PURSU-
ANT TO THE CHAPTER OF THE LAWS OF TWO THOUSAND THIRTEEN WHICH AMENDED
THIS PARAGRAPH WITHIN THIRTY MONTHS OF THE PROMULGATION OF ALL NECESSARY
S. 2320 19
RULES AND REGULATIONS PURSUANT TO SECTION TWO HUNDRED EIGHTY-TWO-A OF
THIS ARTICLE. The loft board may, upon good cause shown, and upon proof
of compliance with the standards of safety and fire protection set forth
in article seven-B of this chapter, twice extend the time of compliance
with the requirement to obtain a residential certificate of occupancy
for periods not to exceed twelve months each.
S 25. Section 11-243 of the administrative code of the city of New
York is amended by adding a new subdivision ee to read as follows:
EE. THE DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT SHALL MAKE
INFORMATION RELATING TO THE PROVISIONS OF THIS SECTION AVAILABLE ON THE
DEPARTMENT'S WEBSITE, AND SHALL PROVIDE A CONTACT PHONE NUMBER ALLOWING
TENANTS TO DETERMINE BENEFITS AVAILABLE PURSUANT TO THIS SECTION. THE
DEPARTMENT SHALL CONVENE A TASK FORCE THAT SHALL EXAMINE AND REPORT ON
METHODS TO IMPROVE THE TRANSPARENCY OF THE PROGRAM ESTABLISHED PURSUANT
TO THIS SECTION.
S 26. Severability clause. If any clause, sentence, paragraph, subdi-
vision, section or subpart of this act shall be adjudged by any court of
competent jurisdiction to be invalid, such judgment shall not affect,
impair, or invalidate the remainder thereof, but shall be confined in
its operation to the clause, sentence, paragraph, subdivision, section
or subpart thereof directly involved in the controversy in which such
judgment shall have been rendered. It is hereby declared to be the
intent of the legislature that this act would have been enacted even if
such invalid provisions had not been included herein.
S 27. This act shall take effect immediately and shall be deemed to
have been in full force and effect on and after June 1, 2012; provided,
that:
(a) sections one, two and three of this act shall be deemed to have
been in full force and effect on and after December 31, 2011;
(b) the amendments made to section 489 of the real property tax law by
section three of this act shall not be deemed to change the eligibility
for benefits, pursuant to such section and any local law or ordinance
providing for benefits pursuant to such section, as a result of conver-
sions, alterations or improvements completed before December 31, 2011;
(c) the provisions of section fourteen of this act shall be deemed to
have been in full force and effect on and after December 31, 2007;
(d) the provisions of sections fifteen, sixteen and seventeen of this
act shall be deemed to have been in full force and effect on and after
December 28, 2010;
(e) with respect to any application for a preliminary certificate of
eligibility that is filed no later than June 24, 2012, or that is filed
for a project that was the subject of mortgage foreclosure proceedings
or other lien enforcement litigation by a lender on or before June 24,
2012, such project shall be subject to that portion of the definition of
"commence" contained in item (1) of clause (iv) of subparagraph (2) of
paragraph (b) of subdivision (a) of section 6-09 of title twenty-eight
of the rules of the city of New York;
(f) sections eighteen, nineteen and twenty of this act shall be deemed
to have been in full force and effect on and after June 1, 2011;
(g) notwithstanding any inconsistent provision of this act, the amend-
ment to subdivision 5 of section 281 of the multiple dwelling law made
by section twenty-one of this act in relation to the authority of the
loft board to exempt categories or subcategories of units or buildings
by rule from determinations of inherently incompatible uses shall be
deemed to have been in force and effect on and after June 21, 2010 and
S. 2320 20
to authorize rules of the loft board promulgated after such date that
make such exemptions; and
(h) sections twenty-one, twenty-two, twenty-three and twenty-four
shall expire and be deemed repealed on June 30, 2015.

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